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20121006
20121006
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what the tax code is. >> thank you. our next speaker -- speaker will be bob greenstein. >> there are two risks here. the obvious risk to the economy in the short term -- if we go over the fiscal cliff and the aggregate demand comes out of the economy that we will have a relatively mild recession in the first part of 2013 and we would be back and recovery by the second half of 2013. it would be a recession on top of where we are and that is not good. the bigger risk is the rest to the economy in the long term if we keep kicking the can down the road. how do we think about this? there's an interesting report that came out several months ago from the carlyle group. i want to briefly read what it includes. it says there will be a grand bargain that replaces the fiscal cliff with an alternative. should a negotiated settlement on long-term deficits failed to materialize during a lame-duck session, the best alternative might be a simple extension of current fiscal policy. such an extension would include the near term prospects and would relieve the pressure to agree to a credi
, there were perennial discussions about campaign finance. bob dole was the republican leader. he was interested in making sure the republicans got a good deal or at least they did not get a bad deal. he was not opposed to campaign finance reform or legislation. in today's world where mitch mcconnell is the senate leader, he has spent years opposing legislation in this area, and trying to shut down regulation we have. that is largely because of senator mcconnell that we have an sec that is deadlocked to this degree and unable to take any action because it takes four votes. there's a two-thirds requirement for the sec to do anything, so we should not be surprised that they don't. having said that, and i think it really is a change, i still hold out hope that after the election and the new congress that they will at least take a look at the disclosure side. the report was crystal clear in citizens united. eight-one, saying disclosure of all of this spending, issue ads as well as election ads, wereaign ads, candidate adds unconstitutional. it is a necessary thing. citizen should know
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